Profile: National Fuel Gas Co (NFG.N)
2 Dec 2016
National Fuel Gas Company, incorporated in 1902, is a holding company. The Company is an energy company engaged in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates through five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility and Energy Marketing. The Company operates an integrated business, with assets centered in western New York and Pennsylvania. The Company also develops and produces oil reserves, primarily in California. The Company, through its subsidiaries, coordinates projects that are designed to produce and transport natural gas from the Marcellus Shale to markets in Canada and the eastern United States.
The Exploration and Production Segment
The Company's Exploration and Production segment operations are carried out through its subsidiary, Seneca Resources Corporation (Seneca). Seneca is engaged in the exploration for, and the development and production of, natural gas and oil reserves in California and in the Appalachian region of the United States. At September 30, 2015, Seneca had the United States proved developed and undeveloped reserves of approximately 34,000 thousand barrels (Mbbl) of oil and approximately 2,150,000 million cubic feet (MMcf) of natural gas.
The Pipeline and Storage Segment
The Company's Pipeline and Storage segment operations are carried out through its subsidiaries, National Fuel Gas Supply Corporation (Supply Corporation) and Empire Pipeline, Inc. (Empire). Supply Corporation provides interstate natural gas transportation and storage services for affiliated and non-affiliated companies through an integrated gas pipeline system extending from southwestern Pennsylvania to the New York-Canadian border at the Niagara River and eastward to Ellisburg and Leidy, Pennsylvania, as well as through approximately 30 underground natural gas storage fields owned and operated by Supply Corporation, and over four other underground natural gas storage fields owned and operated jointly with other interstate gas pipeline companies. Empire, an interstate pipeline company, transports natural gas for National Fuel Gas Distribution Corporation (Distribution Corporation) and for other utilities, industrial customers and power producers in New York State. Empire owns the Empire Pipeline, an approximately 250-mile pipeline system that consist of three components, including approximately 160-mile pipeline that extends from the United States/Canadian border at the Niagara River near Buffalo, New York to near Syracuse, New York; approximately 80-mile pipeline extension from near Rochester, New York to an interconnection with the unaffiliated Millennium Pipeline near Corning, New York (the Empire Connector), and approximately 20-mile pipeline extension from Corning into Tioga County, Pennsylvania (the Tioga County Extension).
The Gathering Segment
The Company's Gathering segment operations are carried out through subsidiaries of National Fuel Gas Midstream Corporation (Midstream Corporation). Through these subsidiaries, Midstream Corporation builds, owns and operates natural gas processing and pipeline gathering facilities in the Appalachian region. Midstream Corporation is a subsidiary of the Company.
The Utility Segment
The Company's Utility segment operations are carried out through its subsidiary, Distribution Corporation. Distribution Corporation sells natural gas or provides natural gas transportation services to approximately 740,000 customers through a local distribution system located in western New York and northwestern Pennsylvania. The areas served by Distribution Corporation include Buffalo, Niagara Falls and Jamestown, in New York, and Erie and Sharon, in Pennsylvania.
The Energy Marketing Segment
The Company's Energy Marketing segment operations are carried out through its subsidiary, National Fuel Resources, Inc. (NFR). NFR markets natural gas to industrial, wholesale, commercial, public authority and residential customers in western and central New York, and northwestern Pennsylvania, offering natural gas for its customers.
National Fuel Gas Co
6363 Main St
WILLIAMSVILLE NY 14221-5887
Company Web Links
- BRIEF-National Fuel Gas sends letter to GAMCO Asset Management regarding proxy access notice
- BRIEF-Gamco Asset Management says it delivered letter to National Fuel Gas nominating Lance Bakrow for election to co's board at 2017 annual meeting of stockholders
- BRIEF-National Fuel Gas qtrly operating earnings per share $0.66
- BRIEF-National Fuel Gas enters a third amended and restated credit agreement
- BRIEF-National Fuel extends Marcellus shale joint development agreement with IOG Capital